Your will is not set in stone. It is a living document that evolves alongside you. Just as you adjust your sails to navigate changing winds, you have the freedom to modify your will to reflect new chapters in your life. But how often can you update this vital tool?
No legal limits on how frequently you can modify your will
In general, you can make changes to your will whenever you see fit. This flexibility gives you the opportunity to adapt your estate plan to new situations, such as:
- Marriage or divorce
- Birth or adoption of children
- Purchase or sale of significant assets
- Changes in your financial situation
- Shifts in your relationships with beneficiaries
- Alterations in your charitable giving goals
While you can update your will multiple times, following proper legal procedures is crucial. Simply writing changes on your existing will or crossing out sections is not legally binding. These informal alterations can create confusion and may even invalidate your entire will.
To ensure the validity of the changes, you must be of sound mind, submit the modifications in writing and sign the updated document in front of two witnesses, who must also sign in your presence.
Regularly updating your will is key to achieving peace of mind
One common method of updating a will is through a codicil, a separate document that amends specific provisions of your existing will. Creating an entirely new will might be more appropriate for more substantial changes.
When exploring these options, obtain guidance from a knowledgeable attorney. Your lawyer can help ensure your will complies with current Michigan laws, avoid potential conflicts or ambiguities and coordinate your will with other estate planning tools.
